Tech Talk: The next disruption by technology, real estate

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Last year, real-estate technology startups raised $3.4 billion in funding, a fivefold increase from 2013, according to startup data provider CB Insights.(MONTCO.Today file photo)

Shopping for a home usually begins with checking out the local school district, real estate taxes, nearby amenities, such as shops and restaurants, but behind the scenes, technology is rapidly changing the home buying experience.

Opendoor, a startup that flips homes, attracted attention in June when it announced it had raised $325 million from a long list of venture capitalists. The financing valued the 4-year-old company at more than $2 billion, writes Erin Griffith for seattletimes.com.

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That was only an appetizer. Three months later, Opendoor has more than doubled its cash pile. On Thursday, the company said it had gotten a $400 million investment from SoftBank’s Vision Fund. The valuation for Opendoor remains the same.

Last year, real-estate tech startups raised $3.4 billion in funding, a fivefold increase from 2013, according to startup data provider CB Insights. One firm, Fifth Wall Ventures, is entirely dedicated to proptech.

The Vision Fund, one of the most aggressive investors in real-estate tech startups, has written large checks to Katerra, a construction company; WeWork, an office rental company; Lemonade, a home-insurance startup; and Oyo Rooms, a hotel company in India.

To read the complete story click here.

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